POLITICS & POLICY

Australian Stock Market Report - Midday 12/16/2011

The Australian sharemarket is improving for the first time in four sessions with the All Ordinaries index (XAO) up 0.4 pct or 18.1 pts to 4215.9. Companies in the consumer discretionary sector, particularly the retailers are amongst the worst performers at lunch however.
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OPEC’s New Quota Meant to Rationalize Over-Production

Member-nations of the Organization of Petroleum Exporting Countries (OPEC) have agreed to raise its oil yield quota to 30 million barrels a day (mbpd), which is actually what the cartel has almost been producing lately.

Gaddafi Daughter Seeks ICC Probe Into His Killing

A lawyer representing Muammar Gaddafi's daughter, Aisha Gaddafi, said on Wednesday he had sent a letter to the prosecutor of the International Criminal Court (ICC) to ask if an enquiry had been launched into the killing of her father and brother.

Australian Stock Market Report - Afternoon 12/15/2011

The Australian sharemarket lost ground for the second time this week with the All Ordinaries index (XAO) ending the day 1.2 pct or 52 pts lower to 4197.8. Today's falls have wiped out almost all of the gains recorded so far this month. In fact since the start of the month, shares have only edged higher by an unimpressive 0.3 pct.

Rena Meets Another Storm; NZ Authorities Fear Damage

Weather reports over Bay of Plenty, where MV Rena is wedged in on a reef, said the area will experience increasing winds on Thursday at speeds of 30 knots, bringing swells up to 4m high. Marine authorities fear of damages that the ill weather could inflict on ill fated vessel MV Rena.

Japan to Spend $8 Billion to Upgrade Warplanes

Japan is set to spend some $8 billion that will upgrade its air capability, possibly opting for a fleet of radar-evading F-35 combat jets manufactured by American firm Lockheed Martin, reports said.

HSBC's PMI: China’s December Manufacturing Data Down, Again

As exports and home sales continue to slide, no thanks to the continuing European debt crisis and stringent real estate policies at the home front, China's manufacturing has been forecast to contract for a second month in December.A preliminary reading of HSBC Holdings PLC's China purchasing managers' index (PMI) released Thursday (2:30GMT) showed the activities in the country's mainland's factories continue to dip in December, 49.0.

Asian Gold Buyers in Frenzy After Price Falls

Asian buyers of the much coveted precious metal gold went into a buying spree as other skilled investors liquidated their investments of the safe haven metal on speculation of a dollar strength rising.

Who will be the Top Fixed-Income Manager for the Year?

Morningstar has again launched its yearly pick for the top fixed-income managers of the year. The tough criterion will again focus on how these managers delivered outstanding returns based on a sound strategy for the long term and not just on the highest returns made for the fiscal year.

Australian Stock Market Report - Midday 12/15/2011

The Australian sharemarket is doing it tough at lunch with the All Ordinaries index (XAO) down 1.3 pct or 55.1 pts to 4194.7. Today's weakness has effectively wiped out almost all of this month's gains.

Westpac Hints It Would No Longer Follow RBA Rate Cut

Australian banks are citing the high cost of money caused by the ongoing eurozone debt crisis as they reason why they would not likely follow the Reserve Bank of Australia (RBA) the next time the central bank cuts the overnight cash rate.

Australia Stocks - Morning - 12/15/2011

A sluggish start is seen for the Australian stock market as a reflection of negative overnight leads from the U.S. and European stock markets. In spite the good import numbers reported for the first time in the U.S., stocks still skidded due to the pessimism pervading the commodities markets. In yesterday's trading the top

Global Markets Overview - 12/15/2011

From Morrison Securities Pty. Ltd. U.S. stocks sank for a third straight day as falling commodity prices added to investor anxiety over the euro and a jump in Italy's borrowing costs.

PNG Crisis: O’Neill, Somare Both Claiming to be Legitimate PM

Papua New Guinea was engulfed in a political turmoil on Monday when its Supreme Court ordered the reinstatement of Sir Michael Somare as the prime minister, a post that parliament bestowed earlier to Peter O'Neill. But O'Neill refuses to turn over his post, so the country technically has two leaders.

Australian Stock Market Report - Afternoon 12/14/2011

The Australian sharemarket certainly could not put 'consistency' down on its resume as one of its strong points. Over the past 20 business days, local shares have improved exactly half of the time and have gained by an uninspiring 2.5 pct over the past three months.

Australian Stock Market Report - Midday 12/14/2011

The Australian sharemarket is losing ground for the second straight day with the All Ordinaries index (XAO) down 0.3 pct or 14.8 pts to 4236.9. The market's two largest sectors, the miners and the financials are both weaker. The financial sector, which includes the big four banks, makes up more than 30 pct of the Australian market while the miners account for around 25 pct of its size.

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